Asian Fintech Startups See a Record $5.4 Billion VC Funding in 2016, Driven by China

Fintech startups in Asia gained a record $5.4 billion in venture-capital funding last year, up from $4.8 billion in 2015.

According to data from venture capital research firm CBInsights, Asia accounted for nearly 20 percent in the number of Fintech investments worldwide. Notably, however, the deals are far more substantial in the region with 43% of the global funding taking place in Asia, in 2016.

A driving factor towards the increase in the volume and value of investments is the money poured into the Asian Fintech sector by major Chinese companies.

The $5.4 billion is recorded across 165 transactions or funding deals in 2016, up from 162 in 2015. On the global stage, the $5.4 billion VC investments into Asian financial technology startups is almost equivalent to the $5.5 billion raised by US-based Fintech startups, from 422 deals. Perhaps notably, 26% of all US-based unicorns now count an investor from the Greater China Region that includes China, Taiwan and Hong Kong, underlining the growing prominence of Chinese investors in the global technology space.

The soaring investment comes

Read more ... source: CryptoCoinsNews

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